Analysis: Bitcoin buying is returning, but a breakout above $78,000 is needed to reverse the downward trend

ChainCatcher news, according to Cointelegraph, CryptoQuant data shows that as demand for bitcoin derivatives rebounds, the net taker buy volume for bitcoin indicates buyers are entering the market. Net taker buy volume is an indicator that measures the imbalance of active buying and selling forces in the derivatives market, and since the outbreak of the Israel/Iran war, this indicator has remained positive. This upward trend coincides with bitcoin's recent price recovery to $74,000, suggesting that demand in the derivatives market has returned.